Sustainable Sourcing

We expect and require our suppliers to adhere to the same standards of business conduct and ethics; human rights and labor; health, safety and well-being of employees; and sustainability and environmental responsibility that we require of ourselves. Given that raw materials account for a significant amount of Lubrizol’s corporate footprint, our supply chain is a critical component in our ability to minimize our footprint and meet our environmental goals.

Over the last few years, we have built a significant sustainable sourcing infrastructure, that includes annual supplier performance evaluations and utilizing EcoVadis to assess our key suppliers.. Several sustainable sourcing recommendations from CDP and EcoVadis have been implemented, including directly engaging with suppliers that represent the largest contributors to our GHG emissions to understand their impact on our environmental footprint and how we might be able to reduce that impact going forward.

In 2020, we conducted internal Sustainable Sourcing Awareness Training and improved internal reporting about our progress. We also expanded accessibility to sustainable sourcing resources to help our businesses systematically address sustainability considerations with current supply chain partners and potential, new suppliers. In addition, our procurement team works with our businesses to explore sourcing options for expanding the use of biomass-based raw materials.

In addition to completing annual performance evaluations of key suppliers, we have established sustainable sourcing goals, including requiring all key suppliers to receive and acknowledge Lubrizol’s Supplier Code of Conduct (or demonstrate equivalency) and undertake EcoVadis assessments.